“This was the same technique MMM used to scam South Africans”

Reactions are coming in from South Africa.. People from South Africa are alleging that this is the same way MMM crashed in their country… and we couldn’t help but make a little research.

Find below a report by some media outlets in South Africa, the day MMM announced they were going on a break:

Controversial “donation platform” and alleged Ponzi scheme, MMM South Africa collapsed and rebooted amid what it calls a “media panic”.

In a notice posted to participants of the scheme after it happened, the group said that “persecution against MMM organized by the mass media” has provoked a panic which has forced the scheme to “start all over again”.

The group’s administration said that the scheme’s currency – “Mavros”, named after the scheme’s founder, convicted Russian fraudster, Sergey Mavrodi – had been frozen and were impossible to use.

The group blamed the collapse of the system on media reports and South African banks, which it alleges have hurt and robbed “millions” of people who were part of the MMM scheme.

The scheme said it has started over with a clean sweep, with a plan to compensate users for any Mavro funds which were frozen.

The “old” version of the Mavro currency will be ‘bought out’ through trades of the “new” version of the currency, where equal value would be paid out to participants over six months, using 10% of total trade – effectively placing a debt burden on all participants.

The notice popped up on participants’ dashboards over the weekend (1 May 2016), but was no longer appearing by Tuesday, according to users.

Some reactions from South Africa:

Mmm is happy to scam nigeria people to pay other nigeria in mmm because nigeria people re very stubborn desperate the warning but many still invest in mmm.

U can cry ooo but don’t commit succeed.. It your risk n your faults.. No one to blame. Greed people only join mmm

LOL u should have learned from your brothers and sisters here in south africa , our old mavro maoney is gone as we speak and MMM is at silence as we speak so watch out for this ponzi schemes i have also learned my lesson here in south africa but atleast is not to much money that i lost

Some reactions from Nigerians:

Why do people take interest in others downfall? Why should we pray for others to for misfortunes? Am not an MMM participant, i don’t pray for its crash because, i have seen a lot lives been turns around for good by MMM.Googluck to all…

MMM crash ke? guys wey go carry stroke dis dec go yapa ehn nd Very soon we will start seeing love stories like, We first met on MMM,they Paired us both but she kept on asking for extension which I did.But I noticed she had a nice voice.I then checked WhatsApp,her pic was so dope and we started from there and here we are today.

I got helped this morning and was matched with someone to pay me. Una go crash before mmm crash

The trust is , what happened now is because every one wants to get their money back because of the holiday and not put money. So there is no way it will not affect the system. So the pause mode is to reduce the pressure to take money

Freeze / block na dem sabi. But all I knw is that this their Moku Mogbe Modaran (MMM) of a tin am not interested. Pennywise (sogun di ogoju) don teach me lesson.but me I will keep on warning my people cos this kind thing is real in Abroad but Nijaaaaaaaa! Guys e ja ara yin.Na starting dem get but d finishing………it is well

What I don’t understand is why they won’t announce the freezing to their participants before now, making people say lots of different things. Now even some Ba5tards are making emphasis on how cbn has been warning people about the scheme without them giving any reasoning about who cbn epp, what has the government at large been doing for its citizens? Why won’t people take risks when all we do is work daily without payment, when people are dying of hunger and the so called government are living large buying exotic cars and building mansion everyday without doing no good for the people….. Now people are saying the scheme has crashed? Wowtho am not a participant but then I don’t wish it so. Have heard people say Carpenters should start making lots of coffins because when something like this is gonna happen, people go just dey fall die and die for roadside……And have also heard another meaning given to the so called mmm, people say it’s wen it crashes that the people will understand its true meaning(moku mogbe modaran) God help us….

Come to think of it. The month self don almost finish. Christmas is next week So time fly’s, In no time it will be over. The only people I have concern for is those that

Lazy people. You sleep at home all day and want your money to grow and yet you want Nigeria to be great. This is exactly what Trump said about you guys. I mean you guys. Not the wise ones.. Imagine how great the world would be if everybody gets to invest solely on mmm. Be wise.